After identifying threats during a risk analysis, what should the auditor do next?

After identifying threats during a risk analysis, the auditor should proceed to identify and evaluate existing controls because this step is crucial in understanding how well the organization is positioned to manage the identified risks. Evaluating the existing controls allows the auditor to assess their effectiveness and determine whether they adequately mitigate the identified threats. This process involves reviewing current policies, procedures, and technical controls that are already in place.

By doing so, the auditor can identify gaps or weaknesses in the controls that may increase vulnerability to the identified risks. This assessment informs subsequent steps in the risk management process, such as recommending improvements or additional controls needed to address the risks effectively.

Aligning the risk assessment with management's process, identifying information assets, or disclosing threats to management are important, but they come into play after the auditor understands the existing control environment. Identifying and evaluating the controls provides a foundational understanding that is essential for making informed recommendations and ensuring that any action taken aligns with the organization’s risk management strategies.